Cwm LLC Reduces Position in Crown Castle Inc. (NYSE:CCI)

Cwm LLC trimmed its holdings in Crown Castle Inc. (NYSE:CCI) by 3.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,829 shares of the real estate investment trust’s stock after selling 424 shares during the quarter. Cwm LLC’s holdings in Crown Castle were worth $1,522,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CCI. Vanguard Group Inc. increased its position in shares of Crown Castle by 1.2% during the first quarter. Vanguard Group Inc. now owns 56,609,569 shares of the real estate investment trust’s stock worth $5,990,991,000 after acquiring an additional 673,243 shares during the period. Legal & General Group Plc increased its holdings in Crown Castle by 1.1% during the 2nd quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust’s stock worth $603,518,000 after purchasing an additional 67,072 shares during the period. National Bank of Canada FI raised its position in Crown Castle by 10.7% during the 2nd quarter. National Bank of Canada FI now owns 4,035,561 shares of the real estate investment trust’s stock valued at $387,333,000 after purchasing an additional 391,127 shares in the last quarter. ClearBridge Investments Ltd grew its position in shares of Crown Castle by 19.4% during the 1st quarter. ClearBridge Investments Ltd now owns 2,632,855 shares of the real estate investment trust’s stock worth $278,635,000 after buying an additional 428,597 shares in the last quarter. Finally, Cooke & Bieler LP raised its holdings in shares of Crown Castle by 95.8% in the second quarter. Cooke & Bieler LP now owns 2,578,932 shares of the real estate investment trust’s stock valued at $251,962,000 after acquiring an additional 1,261,536 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Insider Transactions at Crown Castle

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of Crown Castle stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $103.72, for a total value of $1,128,784.76. Following the sale, the chief operating officer now owns 75,127 shares of the company’s stock, valued at approximately $7,792,172.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

CCI has been the topic of a number of research reports. TD Cowen raised their target price on shares of Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Barclays lifted their price objective on shares of Crown Castle from $112.00 to $116.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. BMO Capital Markets increased their target price on Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a research report on Thursday, July 18th. The Goldman Sachs Group boosted their price target on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Finally, Royal Bank of Canada raised their price objective on Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Eleven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Crown Castle presently has a consensus rating of “Hold” and an average target price of $115.67.

Crown Castle Price Performance

NYSE:CCI opened at $114.30 on Wednesday. Crown Castle Inc. has a one year low of $84.72 and a one year high of $120.92. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market cap of $49.67 billion, a price-to-earnings ratio of 41.87 and a beta of 0.85. The firm’s fifty day moving average is $113.89 and its two-hundred day moving average is $104.92.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The company’s quarterly revenue was down 12.9% on a year-over-year basis. During the same period last year, the firm earned $2.05 EPS. Research analysts expect that Crown Castle Inc. will post 6.64 EPS for the current year.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.48%. The ex-dividend date of this dividend was Friday, September 13th. Crown Castle’s dividend payout ratio (DPR) is presently 229.30%.

About Crown Castle

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service – bringing information, ideas and innovations to the people and businesses that need them.